"The King's Speech," the motion picture about King George VI, who learns to overcome a stuttering problem, won the Academy Award for Best Picture Sunday night at the 83rd Annual Academy Awards held at the Kodak Theatre in Hollywood, Calif.

"To have been part of a film that has touched and moved people so much all around the world has been such a huge privilege," producer Emile Sherman told the theatre's audience and a worldwide television audience of more than 1 billion. "And we are indebted to everyone standing behind us and our financiers took a huge risk on this film, its not an obvious film to back."

Colin Firth, who portrayed the king, won the Oscar for best actor. Tom Hooper, the film's director took home best directing honors.

David Seidler, 73, the writer of the film, brought down the house when he accepted his Academy Award for best original screenplay.

"My father always told me I'd be a late bloomer," Seidler told the crowd. "I believe I am the oldest person to ever win this award."

The movie cost only $15 million to make, but so far it has grossed nearly $115 million in the U.S. alone.

"The King's Speech" remains strong at the box office, finishing in the top 10 again this week.